EIA Natural Gas Storage as of 1/9/26, as reported 1/15/26
*Working gas in storage was 3,185 Bcf as of Friday, January 9, 2026, according to EIA estimates. This represents a net decrease of 71 Bcf from the previous week. Stocks were 33 Bcf higher than last year at this time and 106 Bcf above the five-year average of 3,079 Bcf. At 3,185 Bcf, total working gas is within the five-year historical range.
The NYMEX February contract closed at $3.12/MMBtu yesterday, a $0.29/MMBtu decrease from Tuesday’s close. This week, February has averaged $3.25/MMBtu, around $0.14/MMBtu below last week’s average of $3.39/MMBtu. It is trading at $3.05/MMBtu, down $0.07/MMBtu from the previous day’s close. Natural gas prices continued to drift lower despite colder weather taking hold across the East and MW, as LNG-related weakness and steady supply weighed on sentiment. L48 production remains elevated near 108-110 Bcf/d, though early-cycle nominations show a notable DoD decline in NE output, largely concentrated on TGP, even as broader supply remains resilient. LNG feedgas nominations have softened to ~18 Bcf/d, pressured by reduced power draw and maintenance-related constraints at Freeport and Corpus Christi, though flows are expected to recover as outages clear. ResComm demand has risen sharply with well-below-normal temperatures across the East and MW and should remain elevated through late January, aside from a brief moderation expected around Jan. 22-24. On the curve, bal-winter volatility softened, suggesting reduced sensitivity to near-term weather swings.
*Source: U.S. Energy Information Administration (EIA) Weekly Natural Gas Storage Report
Working Gas in Underground Storage, Lower 48
Working Gas in Underground Storage vs. 5-Year Maximum and Minimum
Current Market
